Earnings per share of 22 cents, up 7 cents from the fourth quarter of 2012

Core revenue(1) of $306.2 million, up 1.5 percent from the fourth quarter of 2012

Provision for credit losses of $22.8 million, down 53 percent from the fourth quarter of 2012

Loan and lease originations increased $213.4 million, or 7.4 percent, from the fourth quarter of 2012

Average deposits increased $603.5 million, or 4.4 percent, from the fourth quarter of 2012

Announced that the OCC has lifted the regulatory order related to TCF’s BSA compliance program

Branch realignment after-tax charge of $5.6 million, or 3 cents per share, related to 46 branches to be consolidated in the first quarter of 2014

Summary of Financial Results

Table 1

(Dollars in thousands, except per-share data)

Percent Change

4Q

3Q

4Q

4Q13 vs

4Q13 vs

YTD

YTD

Percent

2013

2013

2012

3Q13

4Q12

2013

2012(2)

Change

Net income (loss)

$

35,148

$

37,948

$

23,551

(7.4

)

%

49.2

%

$

132,603

$

(218,490

)

N.M.

%

Net interest income

201,862

199,627

201,063

1.1

.4

802,624

780,019

2.9

Diluted earnings (loss) per common share

.22

.23

.15

(4.3

)

46.7

.82

(1.37

)

N.M.

Financial Ratios (3)

Pre-tax pre-provision return on average assets (4)

1.90

%

2.04

%

1.94

%

1.98

%

(.51

)

%

Return on average assets

.90

.97

.63

.87

(1.14

)

Return on average common equity

8.39

9.28

5.93

8.12

(13.33

)

Net interest margin

4.67

4.62

4.79

4.68

4.65

Net charge-offs as a percentage of average loans and leases

.76

.71

1.18

.81

1.54

N.M. Not Meaningful

(1)

Core revenue is calculated as total revenue less gains (losses) on sales of securities of $1 million and $(528) thousand for the three months ended December 31, 2013 and 2012, respectively, and $964 thousand and $102.2 million for the year ended December 31, 2013 and 2012, respectively.

(2)

Includes a net, after-tax charge of $295.8 million, or $1.87 per common share, related to the balance sheet repositioning.

(3)

Annualized.

(4)

Pre-tax pre-provision profit (''PTPP'') is calculated as total revenues less non-interest expense.

TCF Financial Corporation (“TCF” or the “Company”) (NYSE: TCB) today reported net income of $35.1 million for the fourth quarter of 2013, compared with net income of $23.6 million for the fourth quarter of 2012, and net income of $37.9 million for the third quarter of 2013. Diluted earnings per common share was 22 cents for the fourth quarter of 2013 (inclusive of a net after-tax charge of $5.6 million, or 3 cents per common share, related to the realignment of 46 branches), compared with 15 cents for the fourth quarter of 2012, and 23 cents for the third quarter of 2013.